tax credits and new job

dannyboy11

started new job on 11th of february which is part time at 20 hours and £137 per week, previous job was earning about £350 per week. been told my tax credits wont change as its start of new entitlement in april but according to tax credits website will be about £700 a month short until new entitlement gets sorted.is this right. (have 4 kids, 1 disabled so thats why entitlement so high). luckily getting a bit of redundancy to live off and also does anyone know if this needs to be included in my end of year figure

sarahluv

your tax credits will change! who told you that they won't? they are designed to be flexible and change in year. saying that any increase will probably be paid as a lump sum when you confirm your income at the end of the year to avoid an overpayment occuring.

[Deleted User]

Your tax credits will only increase if your income for the current tax year falls below the income of the previous tax year.

bestpud

If they owe you anything, they will pay it you in a lump sum when you send them your P60 details at the end of the year.

How much you are owed depends on the figure they have based this years award on and that may be last year's earnings. But essentially, if you have earned less than your estimated earnings (it says on the award notices what they think you are earning) then you will get it back.

I can't see why they won't change it now though.

dannyboy11

thanks all, like i said before its a good job im getting a small amount of redundancy to help until this is all sorted in april time as my new job is only bringing in a third of the wages i was earning.